The company called for supporting U.S. lawmakers in favor of the Financial Innovation and Technology for the 21st Century Act, hinting the bill could nullify the SEC’s case.

Ethereum’s co-founder explained how using MEV quarantining, MEV minimization, inclusion lists, and node requirements could mitigate the problem.

KlimaDAO and the Japanese stablecoin issuer may eventually trade carbon credits internationally.

Both Bitcoin (BTC) and Ethereum appear to currently be the center of attention in the crypto market so far, with Bitcoin recently hitting just above a 24-hour high of $71,650 mark, marking a 6.4% increase in the past 24 hours and nearly 20% over the past week. A prominent Crypto Analyst who has since been tracking Bitcoin’s movements has recently revealed insights into the asset’s latest trends, signaling a notable move ahead for BTC. Related Reading: Unstoppable Bitcoin? CryptoQuant’s CEO Foresees Bull Run Extending To 2025 Bitcoin’s Path Analyzed: What’s Coming? Crypto analyst Rekt Capital earlier today highlighted on the X platform that a weekly candle close above approximately $71,500 could potentially initiate a breakout from the current “Re-Accumulation Range.” However, the analysts disclosed that history suggests that Bitcoin may need to consolidate within this range for several more weeks to align more closely with historical Halving Cycles, which have previously influenced its price trajectory. #BTC A Weekly Candle Close above ~$71500 would probably kickstart the breakout from the Re-Accumulation Range However, history suggests Bitcoin should consolidate inside this Re-Accumulation Range for several weeks more Extended consolidation here would get Bitcoin closer to… pic.twitter.com/Af0W4MMBTN — Rekt Capital (@rektcapital) May 21, 2024 This extended consolidation period, as highlighted by the analyst, could benefit Bitcoin’s long-term growth. Particularly, it could help the cryptocurrency “resynchronize” with previous cycles, potentially leading to a longer and more sustained bull run, as opposed to a shorter, more accelerated cycle that peaks sooner. Rekt Capital noted: After all, the current acceleration in the cycle is still around 190 days (which is an improvement from the 260-day acceleration set in mid-March when BTC made new All Time Highs) The analyst pointed out that while both scenarios are bullish, the preference between a shorter or a typically longer bull run remains a matter of market speculation. Currently, the discussion revolves around whether Bitcoin can continue to defy historical trends with a break above the $71,500 range. Parabolic Rise Ahead For Bitcoin Meanwhile, another analyst, TechDev, recently provided insights into Bitcoin’s potential future trajectory, drawing parallels between the current market actions and those of the 2017 bull run. Back then, Bitcoin saw a significant rise, recording a 1,200% increase on its way to the previous high of $20,000. TechDev’s analysis suggests that Bitcoin could be setting up for another parabolic rise, potentially reaching as high as $100,000, especially given its longer consolidation period in the current market cycle compared to 2017. Supporting this viewpoint, RektCapital hinted that even a price of $72,000 would seem modest in the coming months if Bitcoin continues on its projected path. #BTC Even $72000 will be a low price for Bitcoin, months from now$BTC #Crypto #Bitcoin — Rekt Capital (@rektcapital) May 20, 2024 Notably, the surge in Bitcoin’s price recorded so far is influenced by a mix of optimism and anticipation surrounding the potential approval of Ethereum spot ETFs and increasing inflows into spot Bitcoin ETFs. Related Reading: Bitcoin Whales Quiet Down – Here’s Why And What It Means For The Market Data from Farside indicates that spot Bitcoin ETFs experienced their most substantial inflow week in two months, with the US fund category collectively achieving $948 million in positive net flows from May 13 to May 17. Notably, about 89% of these inflows occurred in the last three trading days of the week, following a lower-than-expected Consumer Price Index (CPI) report. Featured image from Unsplash, Chart from TradingView

Miners’ equity funding activity is expected to be lower in the second quarter of 2024, with less than $500 million invested as of mid-May.

HyperCycle was founded in October 2022 following discussions between CEO Toufi Saliba and Ben Goertzel, founder of SingularityNet, at the global AGI summit in 2021. The company focuses on developing a General Purpose Technology supporting a decentralized network for AI-to-AI communication, designed to scale with the worldwide demand for AI consumption. Leveraging technologies such as […]

On May 21, 2024, Hex Trust Group announced the introduction of a native stablecoin, USDX, for the Flare network. Hex Trust also revealed that a Clearpool vault, enabling holders to earn a real-world yield, will debut alongside USDX. Hex Trust’s USDX Stablecoin and Clearpool Vault Aim to Enhance Flare’s Defi Ecosystem Founded in 2018, the […]

Bitcoin derivatives data suggests room for additional price upside in the coming weeks as Ethereum ETF approval chances rise.

Officials reportedly contacted the Nasdaq, the Chicago Board Options Exchange and the New York Stock Exchange to make updates and changes to existing spot Ether ETF applications.

The Ethereum price has risen almost 20% in the last 24 hours. This is a positive development for the second-largest crypto token, which has been lagging until now. Ethereum’s price surge is believed to be due to several factors, including the potential approval of the Spot Ethereum ETFs.  SEC Could Soon Approve Spot Ethereum ETFs Ethereum has risen on the news that the Securities and Exchange Commission (SEC) could approve the Spot Ethereum ETF applications. Before now, it was almost certain that the Commission would deny these applications. However, the SEC is now open to approving these funds based on Bloomberg analyst Eric Balchunas’s revelation.  Related Reading: Bitcoin Retail Investors Are Dumping Amid Jump To $67,000, Why This Is Good For Price Balchunas revealed in an X (formerly Twitter) post that he and fellow Bloomberg analyst James Seyffart were increasing their odds of Spot Ethereum ETF approval to 75% (from 25%), having heard that the SEC could likely approve these funds due to “increasingly political issue.” Seyffart also confirmed this development, stating that “things are taking a turn for the better on Spot #ethereum ETF approvals this week. Upping our odds to 75%.” Seyffart further noted in a subsequent X post that the 75% approval odds relate to the 19b-4 filings, with VanEck’s final deadline coming up on May 23. The SEC will still need to approve the S-1 filings before these funds can launch. S-1 approvals could take up to months, meaning that it could take a while before these Spot Ethereum ETFs go live.   However, that hasn’t stopped Ethereum whales from believing, and this group of investors is another reason why ETH’s price has shot up recently. Data from the market intelligence platform shows that these whales bought over 110,000 ETH ($341 million) between May 19 and 20. This has turned out to be profitable since Ethereum’s price had been priced in on the rumors of a rejection.  Time For Ethereum Price And Altcoins To Make Their Move With the recent development that the SEC will likely approve the Spot Ethereum ETFs, Ethereum and other altcoins look primed to make significant moves to the upside. Crypto analyst Michaël van de Poppe had predicted that the news around the Spot Ethereum ETFs would trigger a rally for Ethereum and altcoins.  Related Reading: Bitcoin Price Mirrors Historical Pattern That Led To $1,200 Surge, Will History Repeat Itself? While explaining why he swapped his Bitcoin holdings for Altcoins, Van de Poppe suggested that Ethereum (and other altcoins) would likely see a bullish reversal once the news about a denial of the Spot Ethereum ETFs was out since the crypto token was already priced into this news.  He added that things could even be better if the news turns out to be better than people expect, which is currently the case with the SEC looking increasingly likely to approve these funds.  Meanwhile, crypto analyst Javon Marks predicted that an Ethereum breakout will kickstart the altcoin season. That already looks to be the case, seeing how other altcoins have enjoyed significant price gains in the last 24 hours thanks to the second largest crypto token by market cap. Featured image from Dall.E, chart from Tradingview.com

According to the latest data, U.S. spot bitcoin exchange-traded funds (ETFs) have experienced positive inflows for six consecutive days. Over this period, the spot bitcoin ETFs attracted a total of $1.186 billion. Ark Invest’s ARKB Tops Inflows as U.S. Bitcoin ETFs Gain $237 Million Spot bitcoin ETFs in the U.S. continued their streak of positive […]

The meme coin market has had a bullish start to the week. Pepe (PEPE) is leading the charge, with the token’s price surging 15% since yesterday afternoon. But the positivity isn’t just around PEPE. Meme coin traders are also buzzing about the progress of Dogeverse’s (DOGEVERSE) presale – which has raised over $15 million in […]

Data suggests users on Binance responded to the Ethereum exchange-traded fund (ETF) news by aggressively longing the cryptocurrency. Ethereum Net Taker Volume On Binance Has Just Seen Its Biggest Candle Ever As explained by CryptoQuant community manager Maartunn in a post on X, the Ethereum Net Taker Volume has observed a sharp increase after rumors have surfaced that the ETH spot ETFs have a renewed chance of gaining approval. The “Net Taker Volume” here refers to an indicator that keeps track of the difference between the ETH taker buy and taker sell volumes on any given centralized exchange. Related Reading: Litecoin Whales Go On $230 Million Buying Spree: Will This Change LTC’s Stars? When the value of this metric is positive, it means that the taker buy or long volume is outpacing the taker sell or short volume on the platform right now. Such a trend implies a bullish sentiment is dominant among the investors. On the other hand, the indicator being negative suggests the presence of a majority bearish mentality among the users of the exchange as the shorts are outpacing the longs. Now, here is a chart that shows the trend in the Ethereum Net Taker Volume on the cryptocurrency exchange Binance over the last few years: As displayed in the above graph, the Ethereum Net Taker Volume on Binance has just registered a huge positive spike, the implying investors have just opened a large amount of longs on the platform. More specifically, the indicator’s value during this spike has been $530 million, which, according to the analyst, is the single largest spike the cryptocurrency has ever seen. “Binance-traders are longing the Ethereum ETF-news like there is no tomorrow,” notes Maartunn. This isn’t particularly surprising, considering the market is very well aware what a spot ETF could mean for the asset after having witnessed what went down for Bitcoin. The ETF news pre-approval had been bullish for BTC and while the approval itself had initially led to bearish price action, it eventually paid off for the asset as capital started rapidly flowing in through these investment vehicles and the coin enjoyed a rally that led to a new all-time high (ATH). In another X post, the CryptoQuant analyst pointed out that the Ethereum Open Interest has shot up as well. The “Open Interest” measures the total amount of ETH-related positions that are currently open on all derivative exchanges. This trend isn’t that unexpected, given that derivatives users have been opening a large amount of longs for the asset. With this rapid surge, the Ethereum Open Interest has managed to set a new ATH. Related Reading: Bitcoin “Profit-Taking Has Completed,” Top Analyst Reveals Historically, intense speculation has generally led to more volatility for the coin, as the risk of large liquidations happening can become high in such periods. As such, this Open Interest spike may signal some turbulent times ahead for Ethereum. ETH Price So far in the rally fueled by the ETF news, Ethereum has managed to break past the $3,800 level, which is a milestone the coin hadn’t achieved since mid-March. Featured image from Shutterstock.com, CryptoQuant.com, chart from TradingView.com

Amid ethereum’s value increase, the decentralized finance (defi) ecosystem has significantly benefited from ether’s double-digit growth. Leading defi tokens by market capitalization rose by 14.8% over the past day, and the total value locked (TVL) in defi exceeded $100 billion in the last 24 hours. Defi Protocols and Tokens Benefit From Ethereum’s Meteoric Rise The […]

In a noteworthy development for Shiba Inu investors and traders, well-known cryptocurrency analyst and enthusiast Javon Marks has verified SHIB’s break out from the Bull Flag pattern, an indicator that typically signals the start of an upward price movement. Shiba Inu Breakout To Trigger A Continuation 210% Price Increase Mark’s emphasis delves into the current bullish momentum surrounding Shiba Inu, which has caused traders and investors in the meme coin market to feel optimistic once again, indicating that the crypto asset could be positioned for more gains. Related Reading: If This Happens, Shiba Inu Price Could Double Soon According to the expert, SHIB has now exited a smaller Bull Flag-like pattern, and it is currently holding above it. This breakout appears to be significant as Javon Marks noted that it could start another major wave in an already enormous run on the upside. Specifically, this lesser break can trigger a continuation in an over 210% (3X) run to $0.000081 from the $0.0000254 level, provided that the larger breakout also holds. In addition, should Shiba Inu surpass the $0.000081 level, it might be poised for an additional 90% increase to the $0.0001553 mark. The post read: With a larger breakout also holding, this smaller break can initiate a continuation in an over 210% run to the $0.000081 target which is more than 3X from here. A break above $0.000081 and SHIB may just be set for another +90% move to $0.0001553. The analyst further drew attention to his previous forecasts, in which he predicted a run to the $0.000081 price level. He previously noted that Shiba Inu has made a strong comeback and appears to be primed for yet another huge surge towards the $0.000081 target. Thus, given the progressive breakout from the resisting trend, another 141% upside move to hit the aforementioned price target may not be far off. Also, following price declines, SHIB will garner strength to reach the level and move even higher to $0.0001553. Pullbacks To Buttress The Move Javon Mark affirms that since SHIB’s break out from the resisting trend, it has increased by over 129%, suggesting that a run is well within reach. At this point, Marks claims that as long as current prices maintain their breakout, pullbacks might only enhance these prices. Additionally, an extra 252% price increase toward $0.000081 will be aided by these pullbacks. Related Reading: Shiba Inu Price Makes Decisive Move: Is Now The Ideal Time To Buy? It is important to note that the analyst’s prediction began when SHIB ended a 441-day downtrend in September last year. Given the significance of the development, Marks believed SHIB was about to surge, putting his target at $0.000081, a 975% rise from $0.0000074. As of the time of writing, Shiba Inu was trading at $0.0000257, demonstrating over 6% growth in the past day. Both its market cap and trading volume have also attracted significant gains of about 6.83% and 147%, respectively. Featured image from Shutterstock, chart from Tradingview.com